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on board basically. a deal that would avoid, for example, having to worry about raising the debt ceiling end of july, early august. is that at all doable? >> it is possible. i wouldn't go as far as saying doable now. but what i will say, the difference in approach now versus say two years ago when they tried this and it failed and it was, you know, almost the end of the world as the u.s. bumped up against the debt ceiling, the difference is they are going through what we call in washington regular order. everything is done in the open. i think that has lead to a different atmosphere on capitol hill where people know what's going on, they're voting on measures, and they're not waiting to see the white smoke from the white house when the president and house speaker and others are having private meetings that nobody is involved in. the fact that they didn't trust each other, then rank and file didn't trust them behind closed doors, that added to the problem. the fact it is happening in the open could help. >> at least the president is engaged in the so-called charm offensive, speaking with
debt ceilings to fiscal cliffs. we keep hearing the sky is falling. >> what it about trying to make the president look bad. you think republicans like this is hanging out there and they think if there's no apocalypse it will make the president look bad? >> i think they miscalculated, they thought the american people would respond a little more aggressively against the sequester than they actually had. i think that was part of the idea, they don't want to kick the can down the road they want to fight this. ultimately they'll come up with some issue that they can hold onto and say look we won, we forced the president to his knees but until that happens, this is what you'll see, continuous sequester and a president who is hanging out on a limb. >> bizarro world. >> what do the cuts do to people worried about the belt tightening, is there a risk that the economy absorbs it and you don't have a lasting effect? >> there's not a risk, there's an actuality, reality that $17 trillion economy can cut back on 1% of government funding over a nine-month period. the miscalculation wasn't on the b
on the debt ceiling before his re-election. >> true. >> and so he forced this process to occur and insisted. >> but he didn't want the sequester cuts. >> well, no. he didn't want the cuts, but we had the sequester as a result of his demands. and i'm told my colleagues in the house that the sequester will stay in effect until there is an agreement that will include cuts and reforms that put us on a path to balance the budget over the next ten years. >> but no tax increases. >> no tax increases. the president already got $650 billion worth of tax increases january 1st. he got a trillion dollars worth of tax increases in obama care. this year the federal government will bring in more revenue than any year in our history and yet we're still going to have a trillion dollars budget deficit. spending is the problem. >> the white house says in response, yes, it's true. taxes went up more than $600 billion over ten years at the end of the year but it is also true the white house put $1.5 trillion worth of spending cuts in their budget. the truth is you're both right. i mean, they have offered spendi
the debt ceiling is hit. i think that's the most fertile time for us. i think what republicans want to see, wolf, they want to see a 75-year actuary soundness. we want to make sure the programs are going to be there for the future. the president knows we want to make sure these programs are there, and what the presidents wants, obviously, is some additional revenue. i believe there's a possibility if we could get the 75-year soundness on medicare and social security with appropriate changes and reforms, i think there may be a way through full tax reform to do something that will generate revenue and fit the needs of both sides, and that's what i'm hopeful is going to happen over the next four months. look, there's no negotiation that's happening right now. there's some general discussions that have taken place, but i think the environment is going to be the best that it's been in the next several months. >> just to be precise, under certain circumstances to save social security and medicare over 75 years, you'd be willing to raise tax revenue. do you have a number, two to one, three to one
early august will you vote to raise the nation's debt ceiling? that's when it has to be raised. >> i'm not going to get into what we will or will not do. i do believe that we can make sure the default is not going to happen. i'm not really worried about us defeating. i think we can give the authority to the president to prevent default. i have to tell you, wolf. we can't keep running up deficits like this. it will damage our economy deeply and people are saying that we don't have a crisis on the horizon. of course we do. we've got a debt that is on a tear right now. if the debt takes off like it's projected to do, it's not only hurting our economy today but destroying it for the next generation. we just can't sit around and be complicit with that. that means we have to do something about it. >> let me get your thoughts on a couple sensitive issues coming before congress. immigration reform. do you support a pathway to citizenship for the 11 or 12 million illegal immigrants in the united states? >> well, i think we can get the comprehensive immigration reform. i support reform. i supp
Search Results 0 to 4 of about 5

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